ABC now costs '4 cents a day', says CFO

The ABC has made 50 Australian programs for the cost of two seasons of the Netflix series House of Cards, while costing the taxpayer just four cents a day.

That's according to ABC's chief financial officer Louise Higgins who explained how the broadcaster is doing more with less at the ABC's first ever AGM.

Higgins, speaking at a live broadcast from the ABC studios in Sydney on Friday, said funding has declined by 28 per cent since the mid 1980s when it famously cost the public eight cents a day.

"In 1987 dollar terms we now cost each Australian just four cents a day. In other words, our per capita funding is halved in real terms," Higgins said.

Despite these cuts, Higgins said the broadcaster has increased its investment in Australian programs.

"In fact, for the money spent by Netflix on just two series of House of Cards, the ABC funded no fewer than 50 quality Australian programs, including 24 drama series," she said.

Managing director Michelle Guthrie and chairman Justin Milne also delivered speeches on the successes and challenges of the public broadcaster.

Last year, Guthrie dismantled the traditional structure dividing TV, radio and online. It led to the creation of a specialist, investigative journalism unit and the axing of current affairs show Lateline, in an effort to meet audience demands and create content across all platforms

"Our challenge is to meet the changes in audience behaviour to remains as relevant as we have always been now and into the future," she said at the AGM.

Milne highlighted the broadcaster's digitally focused initiative "ABC 2.0" which was in response to the meteoric rise of platforms such as Netflix.

"Australia has always been at risk of being culturally swamped by overseas media and I believe that risk has never been greater, so ensuring that the trusted and much loved voice of the ABC can continue to be heard has never been more important," he said.

With state and federal elections looming, Guthrie also stressed the ABC's commitment to democracy and its need for funding to maintain its independent analysis.

"This is why a well-funded ABC is a strong ABC," she said.

The speeches were made in a Sydney studio to an audience of about 500 people also gathered in remote studios in Launceston and Rockhampton, and the meeting was broadcast live on the ABC Facebook page.

Various leaders within the ABC responded to questions put forward by those audience members, both in the studio and online, on whether there would be more cuts made to its programming and accusations of bias against the government. Most used the opportunity to reiterate the ABC's focus on the changes in audience needs while continuing its commitment to foster independent journalism.